The Nigerian equities market closed lower for the second consecutive week, with the NGX All-Share Index falling 0.97% to 248,363.55 points. Market capitalization dropped by approximately N1.58 trillion to N161.26 trillion. The week was characterized by weak market breadth, as 54 stocks depreciated against 24 gainers.

Sector performance was broadly negative, with the Industrial Goods index being the sole gainer. Livestock Feeds led the gainers with a 47.75% surge, while Critical Minerals Financing Corp was the week’s worst performer, declining 20.27%. Major corporate actions included Guinea Insurance listing new shares from a private placement, the lifting of the trading suspension on Multi-Trex Integrated Foods, and the completion of a share reconstruction by Sterling Financial Holdings. Analysts anticipate continued market caution as persistent selling pressure remains a headwind.

Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, has stated that the regulator will maintain heightened supervision of the banking sector despite the successful conclusion of the recent recapitalisation exercise.

Speaking at the BusinessDay 14th Annual CEO Forum, Cardoso noted that while the industry raised between N4 trillion and N5 trillion in fresh capital to build resilience against economic shocks, continuous oversight remains essential. He emphasized that the stronger capital base is intended to support eventual increased lending to the private sector once inflation and interest rates moderate. Cardoso also warned banks against indiscriminate lending, urging them to prioritize sophisticated risk management and proper analysis, especially when navigating complex sectors like oil and gas. The CBN plans to collaborate with financial institutions to enhance their internal risk assessment capabilities.